As soon as Bill Ackman files a 13D, other hedge funds flock into the same stock to take advantage of the situation. In this regard, John Petry is probably the Rodney Dangerfield of activist investing. Petry’s Sessa Capital is one of the best performing hedge funds in our list, meaning investors would have beat the heck out of the index funds if they had imitated Sessa Capital’s 13F portfolio. Sessa Capital’s actual investors, billionaire David Einhorn is one of them, enjoyed a 34.1% return in 2016.
John Petry is like Rodney Dangerfield because only one of the 140 biggest activist hedge funds has a position in Ashford Hospitality Prime Inc. (NYSE:AHP). AHP shares appreciated about 30% over the last 12 months, but didn’t move much since Sessa Capital disclosed its activist stake in September 2015. Today’s filing shows that Sessa Capital will get two board seats. The other details of Sessa’s agreement with Ashford Hospitality Prime Inc. (NYSE:AHP) can be seen below.
Ownership Summary Table
|Name||Sole Voting Power||Shared Voting Power||Sole Dispositive Power||Shared Dispositive Power||Aggregate Amount Owned Power||Percent of Class|
|Sessa Capital (Master)||2,210,427||2,210,427||2,210,427||8.5%|
|Sessa Capital GP||2,210,427||2,210,427||2,210,427||8.5%|
|Sessa Capital IM||2,210,427||2,210,427||2,210,427||8.5%|
|Sessa Capital IM GP||2,210,427||2,210,427||2,210,427||8.5%|
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(Name, Address and Telephone Number of Person